Canadian Real Estate Nears A Bottom? RBC Calls It For An 8th Time In 4 Years

Huzzah! Have you heard the good news? A Big Six bank has declared the bottom of Canada’s real estate markets. RBC announced the bottom of the market in its August update, turning the industry into messengers of the prophet on social media. It’s unclear why it’s caught steam this time around, as the bank first called a bottom just a few months after the peak. The bank continued to make the call at least twice annually for the past 4 years. While we aren’t saying the 8th time isn’t a charm, it’s not exactly clear they’re grounding these calls in reality. Canada’s Largest Bank Calls The Bottom of The Market—Again Earlier this week, RBC declared a cyclical turning point for the market. The bank’s vision was inspired by a seasonally adjusted monthly rise in home sales. “It also increasingly appears that home values have already hit their cyclical bottom,” wrote the bank. “The national aggregate MLS Home Price Index increased for a second time month-over-month. Such back-to-back advances haven’t been seen since early 2024,” they explain. It’s worth mentioning here that unadjusted home prices slipped for two months. At the same time, unadjusted sales were lower year-over-year. For those n...